WINTON GROUP Ltd Has $4.81 Million Stake in Fifth Third Bancorp (FITB)
WINTON GROUP Ltd cut its stake in shares of Fifth Third Bancorp (NASDAQ:FITB) by 72.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 185,446 shares of the financial services provider’s stock after selling 497,739 shares during the quarter. WINTON GROUP Ltd’s holdings in Fifth Third Bancorp were worth $4,814,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in shares of Fifth Third Bancorp by 1.1% during the second quarter. Vanguard Group Inc. now owns 57,881,541 shares of the financial services provider’s stock valued at $1,502,604,000 after acquiring an additional 639,361 shares in the last quarter. BlackRock Inc. increased its holdings in shares of Fifth Third Bancorp by 3,239.3% during the first quarter. BlackRock Inc. now owns 48,949,216 shares of the financial services provider’s stock valued at $1,243,309,000 after acquiring an additional 47,483,352 shares in the last quarter. Sanders Capital LLC increased its holdings in shares of Fifth Third Bancorp by 1.4% during the first quarter. Sanders Capital LLC now owns 13,730,238 shares of the financial services provider’s stock valued at $354,605,000 after acquiring an additional 189,300 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Fifth Third Bancorp by 4.3% during the second quarter. Dimensional Fund Advisors LP now owns 10,368,466 shares of the financial services provider’s stock valued at $269,182,000 after acquiring an additional 431,863 shares in the last quarter. Finally, AQR Capital Management LLC increased its holdings in shares of Fifth Third Bancorp by 87.1% during the first quarter. AQR Capital Management LLC now owns 9,305,491 shares of the financial services provider’s stock valued at $236,360,000 after acquiring an additional 4,332,945 shares in the last quarter. Hedge funds and other institutional investors own 79.55% of the company’s stock.
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Several equities analysts have recently weighed in on the company. Keefe, Bruyette & Woods restated a “hold” rating and set a $27.50 price target on shares of Fifth Third Bancorp in a report on Friday, July 14th. BMO Capital Markets restated a “market perform” rating and set a $28.00 price target (up from $27.00) on shares of Fifth Third Bancorp in a report on Tuesday, July 25th. TheStreet upgraded Fifth Third Bancorp from a “c+” rating to a “b” rating in a report on Friday, June 23rd. BidaskClub downgraded Fifth Third Bancorp from a “buy” rating to a “hold” rating in a report on Saturday, August 12th. Finally, Zacks Investment Research downgraded Fifth Third Bancorp from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Three equities research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and two have issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $28.13.
Fifth Third Bancorp (NASDAQ FITB) traded down 0.78% on Tuesday, hitting $28.15. The stock had a trading volume of 1,240,155 shares. Fifth Third Bancorp has a 12 month low of $19.57 and a 12 month high of $28.97. The stock has a market cap of $20.74 billion, a P/E ratio of 14.27 and a beta of 1.37. The company’s 50 day moving average is $27.04 and its 200-day moving average is $25.80.
Fifth Third Bancorp (NASDAQ:FITB) last posted its earnings results on Friday, July 21st. The financial services provider reported $0.45 EPS for the quarter, topping the consensus estimate of $0.42 by $0.03. The firm had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.52 billion. Fifth Third Bancorp had a return on equity of 10.44% and a net margin of 21.83%. Fifth Third Bancorp’s revenue for the quarter was up .1% compared to the same quarter last year. During the same period last year, the company earned $0.40 earnings per share. Analysts forecast that Fifth Third Bancorp will post $1.83 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, October 16th. Investors of record on Friday, September 29th were issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 2.26%. This is a positive change from Fifth Third Bancorp’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend was Thursday, September 28th. Fifth Third Bancorp’s dividend payout ratio (DPR) is 32.49%.
Fifth Third Bancorp announced that its board has approved a stock repurchase program on Wednesday, June 28th that authorizes the company to buyback $1.16 billion in outstanding shares. This buyback authorization authorizes the financial services provider to purchase up to 67% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.
In related news, EVP Frank R. Forrest sold 7,004 shares of the firm’s stock in a transaction dated Friday, August 18th. The stock was sold at an average price of $26.21, for a total transaction of $183,574.84. Following the sale, the executive vice president now directly owns 71,793 shares of the company’s stock, valued at $1,881,694.53. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.38% of the stock is owned by company insiders.
About Fifth Third Bancorp
Fifth Third Bancorp is a bank holding company and a financial holding company. The Company conducts its principal lending, deposit gathering, transaction processing and service advisory activities through its banking and non-banking subsidiaries from banking centers located throughout the Midwestern and Southeastern regions of the United States.
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